TEL AVIV Jan 30 Israeli mobile chip designer
Ceva Inc reported higher quarterly net profit and
revenue that beat analysts' expectations as the company
broadened its portfolio of products and secured new customers.
Ceva said on Thursday it earned 20 cents a share excluding
one-off items in the fourth quarter, compared with 19 cents a
year earlier while revenue rose 8 percent to $14 million.
Analysts had forecast Ceva would earn 15 cents on revenue of
$12 million, according to Thomson Reuters I/B/E/S.
Chief Executive Gideon Wertheizer said the results represent
the strongest licensing quarter in Ceva's history as the company
penetrated new markets.
"Overall, during 2013 we made substantial progress in
expanding our licensee reach beyond the cellular baseband market
with our broadened technology portfolio," he said, noting Ceva
signed 30 licensing agreements during the year, including 17
These new licensees will help to grow Ceva's royalty base.
While royalty revenue fell 18 percent in the fourth quarter,
this was in line with Ceva's outlook, Wertheizer said.